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Larnaca: Finding its Niche –> From Transit Hub to Events Capital

Imagine the year 2028 and Larnaca has redefined its role within Cyprus, no longer serving merely as a transit point but as the nation’s premier destination for international exhibitions. Strategically positioned as the primary meeting ground between Europe and the MENA region, the city has evolved into a hub for large-scale business events spanning multiple industries. While the ambition is high, the potential is undeniable. The key to realizing this vision lies in strategic planning, investment, and execution.

For decades, Cyprus has touted itself as an all-year-round destination. Yet, despite these claims, tourism infrastructure remains largely seasonal, with many businesses closing during the off-peak months. If Cyprus is truly committed to breaking this cycle, it must move beyond rhetoric and embrace a bold, actionable strategy.

Unlocking an Overlooked Asset: The Former Larnaca Airport

One of the most underutilized assets in Cyprus is the old Larnaca Airport. For years, this prime location has remained dormant, despite numerous proposals ranging from a horse sanctuary backed by a Saudi billionaire to a logistics hub and a Chinese business center. However, none of these projects have come to fruition. Instead, attention has been directed toward the marina and port redevelopment, an endeavor with significant complexity and long-term execution challenges. Meanwhile, repurposing the former airport into an exhibition center presents a far more immediate and feasible opportunity.

Unlike Limassol, which has established itself as a fintech and startup hub, or Paphos, which thrives on tourism and a promising university sector, Larnaca lacks a distinct identity. The establishment of a world-class exhibition center would provide the city with a clear, differentiating factor, positioning it as the events capital of Cyprus.

Old Airport Today:

The Strategic Case for an Exhibition Centre in Larnaca

Larnaca’s central location makes it an ideal venue for international exhibitions. It is conveniently situated, approximately 40 minutes, from both Limassol and Nicosia, ensuring accessibility for local and international attendees. Furthermore, Larnaca International Airport is the busiest in Cyprus, providing direct connectivity to major European and MENA cities, including Amman, Tel Aviv, Beirut, Cairo, Athens, Valletta, Belgrade, and Sofia, all within a 2-hour flight radius. This logistical advantage enhances its appeal as a global exhibition hub.

The envisioned Zenon International Exhibition Centre would be a game-changer, offering vast parking space, land for future expansion, picturesque views of the salt lake, and proximity to a private jet terminal and key logistics networks. Larnaca also boasts a diverse range of accommodation options, catering to both budget-conscious and high-end travelers, with further hospitality developments in the pipeline. The infrastructure and demand exist, the missing link is execution.

The Current Exhibition Landscape: Challenges and Gaps

Limassol: While home to excellent conference facilities within hotels and converted warehouses, Limassol lacks a dedicated exhibition center capable of accommodating large-scale international events. Many exhibitions are forced to downsize due to space constraints, splitting events across multiple halls or hosting them in outdated venues such as sports arenas. Given Limassol’s status as a business hub, a comprehensive venue is needed to support key industries, including fintech, forex trading, IT sourcing, gaming, corporate services, blockchain development, and real estate.

Nicosia: The capital’s International Fair Grounds Exhibition Center is outdated and has not received the necessary investments for modernization. Despite periodic discussions on funding, substantial upgrades remain unrealized. Additionally, Nicosia’s limited hotel capacity restricts its ability to host large-scale international events. Its already congested road network presents another challenge, making commuting difficult for visitors. Unlike coastal cities, Nicosia also lacks the leisure appeal that could enhance visitor experience beyond business engagements.

Given these factors, Larnaca is uniquely positioned to bridge the gap in Cyprus’s exhibition sector. With 13.4% of tourists already choosing Larnaca as their base, a modern exhibition facility would stimulate further economic growth, creating new employment opportunities and attracting foreign investment.

A Strategic Initiative Aligned with Cyprus’s National Branding Efforts

The development of a state-of-the-art exhibition center aligns seamlessly with Cyprus’s broader rebranding efforts to expand its global tourism appeal beyond sun and sea. However, successful implementation requires a specialized support team, jointly led by the Deputy Ministry of Tourism and the Larnaca Municipality. This committee would facilitate licensing, staffing, vendor coordination, hotel and transport arrangements, and other logistics, ensuring seamless execution for international organizers. A centralized service provider offering end-to-end event management solutions would not only enhance efficiency but also create additional revenue streams for the local and national economy.

A Multi-Purpose Venue for Diverse Events

The Zenon International Exhibition Centre would serve as a versatile venue, accommodating a wide range of events beyond traditional trade expos. Its modular design would enable it to host international summits, corporate conferences, government initiatives, job fairs, indoor concerts, art exhibitions, and more. This adaptability would maximize utilization throughout the year, ensuring long-term sustainability and economic impact.

Lessons from Malta and Greece: The Economic Potential of Exhibitions

Cyprus frequently draws comparisons to Malta, and for good reason. However, despite being 1,765% larger than Malta, Cyprus attracts only 42% more tourists. The reason? Malta has successfully diversified its offerings beyond leisure tourism. The country hosts an extensive calendar of global events, including MTV, Defected, Elrow, and the SiGMA iGaming Expo, which alone generates $100 million in revenue and attracts over 27,000 attendees annually. Notably, events like SiGMAare strategically scheduled during off-peak seasons to boost economic activity year-round.

Greece offers another compelling example. In 2022, its exhibition sector generated €1.062 billion in revenue, contributing €499 million to GDP and supporting 8,400 jobs. By 2023, revenues had surpassed pre-pandemic levels by 106%, with 2024 projections reaching 151% of 2019 figures. Cyprus has the potential to replicate this success by capitalizing on its strategic location and infrastructure.

The Vision: Cyprus as a Premier Business and Events Destination

With the right approach, the Zenon International Exhibition Centre could become a prime destination for international expos. Instead of seeing empty streets and quiet beaches in winter, imagine thousands of international visitors filling Larnaca’s hotels, restaurants, and transport services. The city’s appeal would extend beyond seasonal tourism, fostering sustained economic growth.

Seizing the Opportunity: The Time is Now

Although the marina and port project has been scrapped (for now), Larnaca’s growth prospects remain strong. Now is the time to rethink and reposition the city for long-term success. If Cyprus is serious about becoming a global business hub, establishing a dedicated exhibition center is a logical step forward.

Envision this: It’s December 2028, and the Zenon International Exhibition Centre is hosting Europe’s largest AI Business Expo. The private jet terminal is bustling, the airport is handling a surge of incoming flights, and Larnaca is alive with energy. The city is no longer just a transit hub—it is a thriving business and events destination, positioning Cyprus on the global stage.